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Earlybird, one of Europe's leading venture capital firms, has recently released its highly anticipated Impact & ESG Report. This comprehensive publication offers valuable insights and guidance to business leaders, investors, and startups on effectively approaching Environmental, Social, and Governance (ESG) practices. Delving into the firm's portfolio companies, the report showcases their significant impact on society, focusing on the healthcare sector.
Within Earlybird, the dedicated wing, Earlybird Health, focuses on early-stage and late-stage healthcare opportunities throughout Europe, selectively expanding its reach to the United States and Israel. With a technology-agnostic approach, Earlybird Health aims to drive positive patient outcomes by investing in diverse sectors, including digital health, diagnostics, medical devices, R&D tools, and biopharma.
Earlybird Health has made strategic investments in 15 companies, with notable success stories including Oculis, Oviva, Perfuze, and ImCheck Therapeutics. Drawing on data from 2022, the report provides valuable insights into the firm's commitments and, more importantly, showcases the tangible actions Earlybird and its portfolio companies took.
One key takeaway from the report is the significant impact of strong ESG policies on startup attractiveness. Encouragingly, Earlybird Health is actively working towards building a more inclusive and diverse ecosystem. Currently, 36% of team members identify as female, and the firm proudly represents six nationalities within its ranks. In 2022, Earlybird Health took a proactive stance by revising all major investment processes, documents, and evaluation criteria to fully incorporate ESG principles.
Beyond financial support, Earlybird goes the extra mile by fostering inclusive and supportive ecosystems. The firm actively participates in Women in VC, Diversity VC, and Level 20 initiatives. Furthermore, Earlybird provides networking opportunities, mentorship programs, and initiatives that connect aspiring women entrepreneurs with experienced professionals, aiming to bridge the gender gap and empower underrepresented voices.
Vision Lab, a groundbreaking incubator and impact fund established by Earlybird in 2020, exemplifies the firm's dedication to actionable change. Recognizing the structural barriers faced by individuals with migration backgrounds, particularly women of color in Germany, Vision Lab offers a six-month program comprising workshops, networking events, mentoring, and funding for entrepreneurial ideas from migrant founders. In June 2023, Earlybird proudly launched its fourth cohort, the largest one to date, with 12 teams representing at least 12 countries.
Earlybird's Impact & ESG Report serves as a powerful testament to the firm's commitment to responsible innovation and creating a positive societal impact. With its strategic investments, advocacy for ESG integration, and transformative initiatives like Vision Lab, Earlybird continues to shape the European tech ecosystem, fostering a culture of diversity, inclusion, and forward-thinking entrepreneurship.
